ME News reports that on September 4 (UTC+8), fintech company Revolut received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national bank charter. It still needs to complete subsequent approvals from the FDIC, the Federal Reserve, and the OCC, with plans to launch the proposed bank in 2027. Upon approval, Revolut will be able to directly offer U.S. customers loans, credit cards, FDIC-insured deposits, and stablecoin and cryptocurrency-related services. (Source: Foresight News)
Revolut Granted Conditional Approval for U.S. National Bank Charter by OCC
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Summary
Revolut received conditional approval from the U.S. Office of the Comptroller of the Currency for a national bank charter. The company must still obtain final approvals from the FDIC, the Federal Reserve, and the OCC before launching its U.S. bank in 2027. Once operational, Revolut will offer FDIC-insured deposits, loans, credit cards, stablecoins, and on-chain crypto services to U.S. customers.
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